EX-12.1 6 t1600702_ex12-1.htm EXHIBIT 12.1

 

Exhibit 12.1

 

   Years Ended December 31 
   2015   2014   2013   2012   2011 
                     
Including Interest Paid on Deposits:                         
Earnings before income taxes  $31,889   $21,002   $19,762   $18,852   $15,022 
                          
Combined fixed charges:                         
Interest expense on deposits   5,604    4,416    4,962    5,607    5,707 
Interest expense on trust preferred securities   1,365    1,365    1,365    1,365    1,366 
Interest expense on subordinated debentures   1,261                 
Interest expense on borrowed funds   1,899    1,679    945    583    543 
Appropriate portion (1/3) of rent expense   1,849    1,215    812    524    449 
Total fixed charges  $11,978   $8,675   $8,084   $8,079   $8,065 
                          
Earnings before income taxes and fixed charges  $43,867   $29,677   $27,846   $26,931   $23,087 
Ratio of earnings to fixed charges   3.66    3.42    3.44    3.33    2.86 
                          
Excluding Interest Paid on Deposits:                         
Earnings before income taxes  $31,889   $21,002   $19,762   $18,852   $15,022 
                          
Combined fixed charges:                         
Interest expense on trust preferred securities   1,365    1,365    1,365    1,365    1,366 
Interest expense on subordinated debentures   1,261                 
Interest expense on borrowed funds   1,899    1,679    945    583    543 
Appropriate portion (1/3) of rent expense   1,849    1,215    812    524    449 
Total fixed charges  $6,374   $4,259   $3,122   $2,472   $2,358 
                          
Earnings before income taxes and fixed charges  $38,263   $25,261   $22,884   $21,324   $17,380 
Ratio of earnings to fixed charges   6.00    5.93    7.33    8.63    7.37